Rishi Sunak announces £5bn extra defence

Prime Minister Rishi Sunak has announced that the UK government will increase its defence spending by almost £5bn over the next two years to counter emerging threats from hostile states. 

The extra funding will be confirmed in a new UK foreign and security strategy, which will be published on Monday.

Of the additional funds, £3bn will be earmarked to support the UK-US pact to supply Australia with nuclear-powered submarines, known as the Aukus pact, and to boost industrial infrastructure and servicing of UK submarines. 

The remaining £1.9bn will be used to replace weapons sent to Ukraine and improve the UK’s munitions infrastructure.

‘Increasingly concerning activity by China’

The updated security strategy document will replace the first version unveiled under former PM Boris Johnson in 2021 and will take account of an increased security risk posed by Moscow, as well as “increasingly concerning” military, financial and diplomatic activity by China. 

The document will also outline details of a new training curriculum for security officials, as well as a unit within MI5 to offer security advice to businesses and other organisations.

The extra defence spending will help the UK “stand our ground” in an increasingly “volatile” world, said Mr Sunak, adding that the UK will fortify its national defences from economic security to technology supply chains and intelligence expertise to ensure it is never again vulnerable to the actions of a hostile power. 

The government is committed to increasing defence spending to 2.5% of national income in the longer term, but no specific timeframe has been given.